Miracle Mile Advisors LLC Invests $274,000 in Valero Energy Co. (NYSE:VLO)

Miracle Mile Advisors LLC bought a new stake in Valero Energy Co. (NYSE:VLO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,238 shares of the oil and gas company’s stock, valued at approximately $274,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in Valero Energy in the third quarter valued at approximately $28,000. Compagnie Lombard Odier SCmA purchased a new stake in Valero Energy in the 3rd quarter valued at $34,000. True Wealth Design LLC raised its position in Valero Energy by 196.8% in the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 183 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Valero Energy during the 3rd quarter worth $38,000. Finally, Ashton Thomas Securities LLC acquired a new position in Valero Energy in the third quarter valued at $50,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Analyst Ratings Changes

VLO has been the subject of several recent research reports. Barclays decreased their target price on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Bank of America started coverage on Valero Energy in a research note on Thursday, October 17th. They issued a “neutral” rating and a $150.00 target price on the stock. Citigroup cut their price target on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Scotiabank lowered their price objective on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $154.57.

Valero Energy Stock Up 1.2 %

Shares of NYSE VLO opened at $139.51 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $131.09 and a 200 day moving average price of $138.59. Valero Energy Co. has a 52 week low of $116.84 and a 52 week high of $184.79. The stock has a market capitalization of $44.17 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 2.43 and a beta of 1.42.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The company had revenue of $32.88 billion during the quarter, compared to the consensus estimate of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same period last year, the firm earned $7.49 EPS. Equities research analysts anticipate that Valero Energy Co. will post 7.96 EPS for the current fiscal year.

Valero Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th will be issued a $1.13 dividend. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.24%. Valero Energy’s dividend payout ratio is 38.39%.

About Valero Energy

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.